PG&E Corporation and Pacific Gas and Electric Company, together PG&E, submitted regulatory and court filings outlining the key elements of the company’s updated Chapter 11 Plan of Reorganization.
PG&E and Pacific Gas and Electric Company today filed a joint Chapter 11 plan of reorganization in the U.S. Bankruptcy Court for the Northern District of California.
Credit rating agency KBRA released a project finance report exploring how the bankruptcy of Pacific Gas & Electric will affect project financings and power purchase agreements.
Turnaround specialist James Mesterharm, a managing director at AlixPartners, has been tapped to lead restructuring efforts during PG&E’s soon-to-be-filed bankruptcy, according to sources talking Reuters.
Bank of America, JPMorgan Chase Bank, Barclays Bank and Citigroup Global Markets signed a commitment letter to provide $5.5 billion in senior secured super-priority DIP credit facilities to support PG&E through its bankruptcy process.